ESMA consults on draft RTS for prospectuses

Moment of Truth: ESMA now requires the online publication of RTS27 and RTS28 reports

The European Securities and Markets Authority (ESMA) today launched a consultation on draft Regulatory Technical Standards (RTS) under the new Prospectus Regulation (Regulation (EU) 2017/1129).

These RTSs set out a number of requirements concerning the following topics:

  • The key financial information that should appear in the summary of the prospectus;
  • Data and machine readability of information to be sent to ESMA in relation to the storage and mechanism providing the public with free of charge access and search functions;
  • Advertisements relating to public offers or admission to trading;
  • Situations which require the publication of a supplement to a prospectus; and
  • Publication of a prospectus.

In addition to market participants affected by the new Prospectus Regulation, ESMA would in particular encourage investors, issuers, offerors or persons asking for admission to trading on a regulated market to respond to this consultation paper.

Next steps

The consultation published today is open for comments until 9 March 2018.

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